Decentralized stablecoins remain trapped in unresolved design dilemmas, according to ongoing technical assessments from the Ethereum ecosystem. The core issues run deeper than surface-level fixes: overreliance on the U.S. dollar exposes these systems to external economic pressures, while fragile oracle mechanisms create susceptibility to price manipulation attacks. Perhaps most critically, the yield-dependent staking model introduces systemic vulnerabilities that could cascade during market stress. These aren't minor tweaks—they're fundamental architectural questions that the DeFi community is still wrestling with. Until decentralized stablecoin protocols address these multi-layered challenges, the path toward truly resilient on-chain stablecoins remains uncertain.